Midcontinent independent Chaparral Energy LLC, Oklahoma City, reported it has voluntarily filed petitions for relief under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court of Delaware. Source: News

In its Short-Term Energy Outlook for May, the US Energy Information Administration estimates that global petroleum and other liquid fuels inventory builds will average 1 million b/d in 2016 and 200,000 b/d in 2017 compared with the average of 1.4 million b/d in 2016 and 400,000 b/d in 2017 forecast in last month’s STEO. […]

Sinopec Yangzi Petrochemical Co. Ltd., a wholly owned subsidiary of China Petroleum & Chemical Corp. (Sinopec), has commissioned a new processing unit to boost production of light olefins and aromatics at its integrated refining and petrochemical complex in Nanjing, Jiangsu Province, China. Source: News

The US Bureau of Ocean Energy Management extended by 2 weeks the comment period for its proposed air-quality regulations for offshore oil and gas operations on May 6. The US Department of the Interior agency said it would accept comments for 60 days when it initially proposed the requirements in March (OGJ Online, Mar. 18, […]

Light, sweet crude prices settled below $44/bbl on the New York market on May 9, down more than $1/bbl on reports that the spread of Canada’s wildfires has slowed and the blaze has moved away from key oil sand production areas, at least for now. Source: News